Keystone Capital, Inc. (“Keystone”) is pleased to announce today that its portfolio company, Cherry Hill Programs, has completed the acquisition of Photogenic, a leading provider of souvenir photography to premier tourist attractions across the United States. Photogenic is headquartered in Chicago, IL.
Keystone initially acquired Cherry Hill Programs, the photography market leader in providing mall-based holiday photography services and products, in December 2015. Cherry Hill has been managing on-premises Santa and Easter Bunny photography programs since 1961. Under Keystone’s ownership, Cherry Hill’s footprint has grown from 325 to 900+ mall locations across North America. The company is headquartered in Marlton, NJ. For more information on Cherry Hill, please visit cherryhillprograms.com.
Photogenic is a leading provider of souvenir photography services to premier tourist attractions across the United States. Photogenic offers a photography solution that integrates seamlessly with its venue customers’ operations, enhancing the visitor experience and opening a new revenue stream for the venue. CEO, Steve Craig, began operating at Photogenic’s flagship location, Chicago’s Navy Pier Centennial Wheel in 2002, and has since expanded the company’s presence to tourist attractions and boat tour operations across the United States, including Willis Tower, Entertainment Cruises, The Gateway Arch, The Alamo, Virginia Aquarium & Marine Science Center, Museum of Science & Industry, Phoenix Zoo, and Shedd Aquarium. Steve will remain with Photogenic leading the souvenir photography division. For more information on Photogenic, please visit PhotogenicInc.com.
The transaction brings together leaders in both the mall-based holiday photography and souvenir photography industries. Cherry Hill and Photogenic have each fostered cultures of operational excellence in their respective sectors, which leads to a natural alignment of values and strategic vision. Management looks forward to working collaboratively to continue delivering a best-in-class customer experience to both our mall and tourist attraction partners.
“Providing a unique and memorable experience is key to attracting visitors to mall and tourist attraction locations alike,” said Ed Warchol, CEO of Cherry Hill. “Steve and Photogenic share our philosophy that the visitor experience must be world-class, which requires seamless operations and state-of-the-art imaging technology with caring and attentive employees. We welcome Steve and the Photogenic team to the Cherry Hill family.”
“I’m excited about Photogenic’s future as a part of Cherry Hill Programs,” said Steve Craig, CEO of Photogenic. “In bringing these two businesses together, we are committed to maintaining the entrepreneurial spirit and guest-first approach that the company was founded upon, while tapping into additional resources from Cherry Hill to better serve our tourist attraction partners and their guests as we continue to expand our portfolio of venue locations across North America.”
Terms of the transaction are not being disclosed. Legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP in connection with this transaction.